Continuing the record-setting spree, gold prices on Thursday climbed to Rs 18,399 per ten gram for April delivery amid weak US dollar.
Gold rose by Rs 190 to Rs 31,350 per ten grams in the national capital on Thursday as stockists and retailers remained net buyers of the precious metal for the marriage season amid a firming global trend.
Lower imports has helped narrow trade deficit to $9.92 billion in January from $18.7 billion.
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
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Traders said sentiment turned bearish on emergence of stockists selling at existing higher levels amid weak global trend as improving economic growth reduced demand for the precious metals as an alternate investment.
India outclassed South Korea 5-3 in a hard-fought semi-final to enter the gold medal clash of the men's hockey competition at the Asian Games.
Extending its gains for the second straight day, gold prices rose by another Rs 100 to Rs 28,450 per ten gram in New Delhi on Monday on pick up in demand from jewellers even as the metal weakened overseas.
Silver rose by Rs 50 to Rs 36,050.
Most consumers are going for token buying of lesser value and are waiting for price correction for purchase of wedding jewellery.
Traders said sustained buying by stockists and retailers amid a firm global trend where gold advanced as the drop to the lowest level in 34 months last week lured buyers mainly influenced the sentiment.
Traders said scattered buying by retailers amid a firm global trend, where gold climbed to six-month high, and escalating tension in Ukraine mainly boosted demand for the precious metals as a safe haven.
Silver also eased by Rs 320 to Rs 35,780 per kg.
For India to monetise gold, it is not the institutional depositor that policymakers must target but the average retail depositor.
Real estate buying dropped between 2004 and 2012.
Prices registering a whopping 65 per cent growth in domestic markets and a 75 per cent jump in the US.
The government on Thursday slashed the import tariff value on gold for the second straight day to $ 414 per 10 grams and silver to $672 per kg, in line with weak global prices of the precious metals.
Gold in Singapore, which normally sets the price trend on the domestic front, fell by 1.4 per cent to $1,278.94 an ounce and silver by 2.8 per cent to $19.55 an ounce.
Gold extended its slump for the second day and shed another ₹ 350 to hit a six-month low of ₹ 29,000 per 10 grams in the bullion market.
India's shooters struck it rich at the Commonwealth Games on Friday morning, winning three gold medals and a silver.
In the first fortnight of December, the gold imports have fallen to about 25 tonnes, from 150 tonnes during entire November
The Commerce and Industry Ministry is pitching for easing of the gold import restrictions to boost gems and jewellery exports
Sentiment remained bearish as gold fell in global markets after better-than-expected US economic data backed the case for the Federal Reserve to slow stimulus, traders said.
RBI has already advised banks to stop selling gold coins.
While gold surged by Rs 275 to Rs 27,300 per 10 grams, silver gained Rs 295 to Rs 40,730 per kg on increased offtake by jewellers and industrial units.
Seeking to restrict gold imports, the Reserve Bank on Friday said nominated banks and agencies will not be allowed to import the precious metal in excess of their entitlements in first or second lot under the 80:20 scheme.
Promising Indian shooter and a multiple gold medallist at junior nationals, Kynan Chenai clinched the trap gold medal in the Singapore Open Shooting Championship in Singapore.
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
Gold prices fell by Rs 160 to Rs 30,000 per ten grams in New Delhi on sustained selling by stockists against sluggish demand amid a weak global trend.
Globally, gold was trading 0.35 per cent lower at $1,267.20 an ounce in Singapore.
Round-tipping creates the opportunity for exporters to source funds at a much cheaper cost, which they divert to some other business.
Gold rebounds after 3-day fall on renewed demand, global cues.
He left behind Ashok and Ronak Pandit in the individual event of the 49th National Shooting Championship.
While the gold policy covers every aspect, from sourcing gold to trading and investing in it, experts assert that the policy is incomplete if mining of gold in India isn't promoted.
D Subbarao reiterated concerns over rising gold imports and its pressure on current account deficit.
India struck gold not once but twice in their maiden appearance at the Winner International Boxing Tournament with Paramjeet Samota (+91kg) and teen sensation Shiva Thapa (56kg) finishing on top in the finals in Belgrade, Serbia.
Indian demand fell 26 percent to 190.3 tonnes in the first quarter of 2014 from the same period a year earlier.
Surging capital markets in India are turning investors away from the bullion market to attractive stocks. This has resulted in the fall of gold prices on lack of buying supporters.
Both gold and silver tumbled on the bullion market on Thursday on fresh selling by stockists and weak global trend, recording substantial losses.
Traders said stockists selling in line with a weak global trend as an improving US economy prompted the Federal Reserve to cut stimulus, which reduced demand for precious metals as alternative assets.
